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Loans Receivable and ACL (Tables)
 3 Months Ended
Jun. 30, 2023
Loans and Leases Receivable Disclosure [Abstract]  
Loans Receivable and ACL The following is a summary of loans receivable at June 30, 2023 and March 31, 2023:
June 30, 2023
March 31, 2023
$ in thousandsAmountPercentAmountPercent
Loans receivable:    
One-to-four family$65,526 11.1 %$65,808 11.0 %
Multifamily178,815 30.3 %179,117 30.0 %
Commercial real estate173,088 29.3 %178,424 29.8 %
Business (1)
163,348 27.7 %166,908 27.9 %
Consumer (2)
9,757 1.6 %7,639 1.3 %
Total loans receivable$590,534 100.0 %$597,896 100.0 %
Allowance for credit losses(5,858)(5,229)
Total loans receivable, net$584,676 $592,667 
(1) Includes PPP loans and business overdrafts
(2) Includes personal loans and consumer overdrafts
Allowance for Credit Losses
The following is an analysis of the allowance for credit losses based upon the method of evaluating loan reserves for the three months ended June 30, 2023 under the expected loss methodology.
Three months ended June 30, 2023
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateBusinessConsumer UnallocatedTotal
Allowance for credit losses:     
Beginning Balance$716 $1,109 $1,814 $1,139 $449 $2 $5,229 
Impact of CECL adoption1,220 (392)(497)505 (166)(2)668 
Charge-offs— — — — (95)— (95)
Recoveries— — — 49 1 — 50 
Provision for (recovery of) Credit Losses127 (4)(53)(289)225 — 6 
Ending Balance$2,063 $713 $1,264 $1,404 $414 $— $5,858 
Allowance for Credit Losses Ending Balance: collectively evaluated for impairment$1,962 $713 $1,264 $1,392 $414 $— $5,745 
Allowance for Credit Losses Ending Balance: individually evaluated for impairment101 — — 12 — — 113 
Loan Receivables Ending Balance:$65,526 $178,815 $173,088 $163,348 $9,757 $— $590,534 
Ending Balance: collectively evaluated for impairment60,386 176,508 168,566 152,424 9,756 — 567,640 
Ending Balance: individually evaluated for impairment5,140 2,307 4,522 10,924 1 — 22,894 

The following is an analysis of the allowance for loan losses as of the fiscal year ended March 31, 2023 and for the three months ended June 30, 2022 based upon the incurred loss impairment model.
At March 31, 2023
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for Loan Losses Ending Balance:$716 $1,109 $1,814 $1,139 $449 $2 $5,229 
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment607 1,109 1,814 937 449 2 4,918 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment109 — — 202 — — 311 
Loan Receivables Ending Balance:$65,808 $179,117 $178,424 $166,908 $7,639 $— $597,896 
Ending Balance: collectively evaluated for impairment60,805 179,046 171,234 160,985 7,638 — 579,708 
Ending Balance: individually evaluated for impairment5,003 71 7,190 5,923 1 — 18,188 

Three months ended June 30, 2022
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$731 $1,114 $1,157 $2,497 $123 $2 $5,624 
Charge-offs— — — — (13)— (13)
Recoveries— — — 19 1 — 20 
Provision for (recovery of) Loan Losses(82)(61)(49)(195)2 358 (27)
Ending Balance$649 $1,053 $1,108 $2,321 $113 $360 $5,604 
Nonaccrual Loans
The following is a summary of nonaccrual loans, at amortized cost, at June 30, 2023 and March 31, 2023.
June 30, 2023
March 31, 2023
$ in thousandsNonaccrual Loans with No AllowanceNonaccrual Loans with an AllowanceTotal
Nonaccrual Loans		Nonaccrual Loans
Gross loans receivable: 
One-to-four family$4,154 $— $4,154 $4,001 
Multifamily824 — $824 71 
Commercial real estate4,522 — $4,522 7,190 
Business6,088 10 $6,098 998 
Consumer1 — $1 1 
Total nonaccrual loans$15,589 $10 $15,599 $12,261 
Credit Quality Indicators :
$ in thousands202320222021202020192018 and earlierRevolving LoansTotal
Credit Risk Profile by Internally Assigned Grade: 
Multifamily
Pass$3,287 $54,039 $51,796 $28,328 $18,088 $20,172 $— $175,710 
Special Mention— — — — — — — — 
Substandard— — 1,483 1,560 — 62 — 3,105 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total3,287 54,039 53,279 29,888 18,088 20,234 — 178,815 
Commercial Real Estate
Pass8,383 31,662 28,022 17,289 21,172 61,344 — 167,872 
Special Mention— — — — — 694 — 694 
Substandard— — — — — 4,522 — 4,522 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total8,383 31,662 28,022 17,289 21,172 66,560 — 173,088 
Business
Pass8,454 42,152 49,728 11,037 401 42,070 — 153,842 
Special Mention— — 7,326 — — 16 — 7,342 
Substandard— — — — 193 1,971 — 2,164 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total8,454 42,152 57,054 11,037 594 44,057 — 163,348 
Credit Risk Profile Based on Payment Activity:
One-to-four Family
Performing1,610 3,876 13,562 1,448 9,127 31,778 — 61,401 
Non-Performing— — — — — 4,125 — 4,125 
Total1,610 3,876 13,562 1,448 9,127 35,903 — 65,526 
Consumer
Performing7,769 803 17 30 — 1,137 — 9,756 
Non-Performing— 1 — — — — — 1 
Total7,769 804 17 30 — 1,137 — 9,757 
Gross charge-offs— — — — — 95 — 95 
Total$29,503 $132,533 $151,934 $59,692 $48,981 $167,891 $— $590,534 
    At March 31, 2023, the risk category by class of loans was as follows:
$ in thousandsMultifamilyCommercial Real EstateBusiness
Credit Risk Profile by Internally Assigned Grade:
Pass$175,981 $170,534 $154,056 
Special Mention771 701 5,719 
Substandard 2,365 7,189 7,133 
Total$179,117 $178,424 $166,908 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$60,629 $7,639 
Non-Performing5,179 — 
Total$65,808 $7,639 
Past Due Financing Receivables The following table presents an aging analysis of the amortized cost of past due loans receivables at June 30, 2023 and March 31, 2023.
.
June 30, 2023
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans
Receivables
One-to-four family$— $263 $2,649 $2,912 $62,614 $65,526 
Multifamily— 551 1,078 1,629 177,186 178,815 
Commercial real estate— — 4,522 4,522 168,566 173,088 
Business— 11,652 2,528 14,180 149,168 163,348 
Consumer— 73 32 105 9,652 9,757 
Total$— $12,539 $10,809 $23,348 $567,186 $590,534 
March 31, 2023
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans Receivables
One-to-four family$1,207 $185 $2,475 $3,867 $61,941 $65,808 
Multifamily1,458 — 71 1,529 177,588 179,117 
Commercial real estate1,370 — — 1,370 177,054 178,424 
Business11,006 — 5,014 16,020 150,888 166,908 
Consumer99 26 34 159 7,480 7,639 
Total$15,140 $211 $7,594 $22,945 $574,951 $597,896 
Impaired Loans The following table presents the amortized cost of collateral dependent loans with the associated allowance amount, if applicable, as of June 30, 2023:
Collateral Type
$ in thousandsReal EstateOtherAllowance Allocated
One-to-four family$5,140 $— $101 
Multifamily2,307 — — 
Commercial real estate4,522 — — 
Business10,731 193 12 
Consumer1 — — 
$22,701 $193 $113 

Real estate collateral includes one-to-four family, multifamily and commercial properties. Collateral types securing business loans include accounts receivable. There have been no significant changes to the types of collateral securing the Bank's collateral dependent loans.

The following table presents information on impaired loans with the associated allowance amount and interest income recognized on a cash basis, if applicable, at March 31, 2023.
At March 31, 2023
$ in thousandsRecorded
Investment		Unpaid
Principal
Balance		Associated
Allowance		Average BalanceInterest Income Recognized
With no specific allowance recorded:
One-to-four family$3,972 $4,567 $— $3,861 $111 
Multifamily71 71 — 220 — 
Commercial real estate7,190 7,378 — 4,054 36 
Business1,114 1,146 — 1,723 — 
Consumer1 1 — — — 
With an allowance recorded:
One-to-four family1,031 1,031 109 554 41 
Business4,809 4,820 202 5,116 316 
Total$18,188 $19,014 $311 $15,528 $504